The economic burden for global critical care is estimated at $270 billion and intensive care unit (ICU) mortality in developed countries is still in the range of 10% to 20%. Advancements in effective patient monitoring in the ICU can not only help reduce the mortality rate but also be beneficial in improving patient and healthcare staff experience. Furthermore, external factors like value-based care adoption and consolidation of hospital systems are expected to provide strong impetus for the development of more efficient and cost-effective critical care monitoring solutions.
The revenue growth from the sale of standalone bedside monitors is expected to decline gradually over the years due to the decrease in ICU bed utilization and the improvements in preventive care. However, the rise in demand for improved care quality is expected to drive the overall critical care solution market and push market participants to shift their focus from products to solutions. ICU digitalization is seen as a major trend across regions. Companies are already actively working and commercializing solutions for data management, clinical decision support systems and wireless monitoring.
With the adoption of new-age technologies like advanced sensors, telemetry, artificial intelligence (AI) and cloud computing, effective integration and assessment of data from diverse sources like imaging, clinical notes and patient history has become possible, thus leading to improved health outcomes and patient experience. Digitalized solutions have also led to a reduction in care/medication, hospital stay, readmission and staff workload, resulting in an improvement in overall cost efficiency for critical care.
This study outlines the background and current trends in the critical care patient monitoring industry that are driving the shift in business models and product innovations, and also presents the top 3 growth opportunities. It analyzes market drivers/restraints, provides growth forecasts for the market for the next 5years till 2024, as well as gives a revenue segmentation break-up by region and solution categories. It provides key insights into trends that are reshaping the future ecosystem of critical care monitoring, considering strategic initiatives and collaborations by established participants as well as new technology advancements/disruptions by start-ups.
Key Issues Addressed
Is the market growing, how long will it continue to grow and at what rate?
Who will continue to occupy the major market share and which segments are expected to grow at a faster rate compared to others?
What are the current unmet needs and different growth opportunity areas?
How will external factors like value-based care and aging population impact the market?
Which recent technology innovations can disrupt the market and who are the key innovative players to watch for?
What are the different strategic initiatives and business models adopted by key participants for achieving sustainable growth
Key Topics Covered:
1. Executive Summary
Scope and Segmentation
Key Questions this Study will Answer
Market Engineering Measurements
Key Companies to Watch
Executive Summary - 3 Big Predictions
2. Market Overview
Economic Burden of Critical Care
3. Competitive Playbook
New Market Opportunities
Merger, Acquisition and Partnership Assessment
Impact of Healthcare Industry Mega Trends on the Critical Care Patient Monitoring Market
4. Drivers, Restraints and Trends - Total Critical Care Patient Monitoring Market
5. Forecasts and Trends - Total Critical Care Patient Monitoring Market
Market Engineering Measurements
Revenue Forecast by ICU Category
Revenue Forecast Discussion
Percent Revenue Forecast by Country
Revenue Forecast by Country
Revenue Forecast Discussion by Country
6. Competitive and Innovative Environment
Market Share and Analysis
Technology Innovation Trend
Product Development Trend
Future Readiness Assessment Matrix
Recent Strategic Initiative Assessment for Key Participants
Technology Start-up Map
Start-up Activity and Funding across Critical Care Continuum
Select Start-up Profiles
Recent Technology/Product Development Focus
Analyst Perspective - Future Scenario
7. Growth Opportunities and Companies to Action
Growth Opportunity 1 - Integrated Solutions Through a Service-based Model
Growth Opportunity 2 - Preventive Pre/Post ICU Care
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